Good morning team, Chris Conway your Chief Market and Trading Strategist here with your First Look.
SPI futures are pointing to a positive start later this morning, after US markets popped higher overnight.
Wall Street advanced, touching fresh highs, as some of the big techs rallied.
A rise in the spot price of iron ore is offset by a fall in oil.
What’s on today:
Local data: RBA minutes of June board meeting, ABS established house price index first quarter
Overseas data: Euro zone April current account; Fed speaker: Kaplan
SPI futures up 10 points (+0.2%) to 5753
AUD -0.2% to 75.97 US cents
On Wall St, Dow +0.7%, S&P 500 +0.8%, Nasdaq +1.4%
In New York, BHP +0.6%, Rio -0.2%
In Europe, Stoxx 50 +1%, FTSE +0.8%, CAC +0.9%, DAX +1.1%
Spot gold -0.7% to $US1245.43 an ounce
Brent crude -1.1% to $US46.86 a barrel
US oil -1.3% to $US44.16 a barrel
Iron ore +1% to $US56.30 a tonne
Dalian iron ore -0.2% to 433 yuan
LME aluminium +0.4% to $US1875 a tonne
LME copper +1.2% to $US5724 per tonne
10-year bond yield: US 2.19%; Germany 0.28%; Australia 2.40%
What happened overnight: